October 2012
Intermediate to advanced
250 pages
6h 3m
English
book
Timing Solutions for Swing Traders: A Novel Approach to Successful Trading Using Technical Analysis and Financial Astrology
by Robert Lee, Peter Tryde
Content preview from Timing Solutions for Swing Traders: A Novel Approach to Successful Trading Using Technical Analysis and Financial Astrology
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EXTENDED WAVES
An extended wave applies to the longest wave in any of the three impulse waves. Extension can be expected to occur in only one of the three impulse waves, either in Wave 1, 3, or 5. A further extension may also occur in the extending wave itself.
In any extension, the Rule of Equality applies to the two non-extended waves; that is, they tend to be either equal in price or related by a Fibonacci ratio, or both. Figures 4.6 to 4.8 show examples of extended waves.
FIGURE 4.6 Wave (1) is extended where the Rule of Equality applies to Wave (3) and Wave (5).
FIGURE 4.7 Wave [3] is extended and the Rule of Equality applies to Wave [1] and Wave [5].
FIGURE 4.8 The Rule of Equality applies to Wave 1 and Wave 3 in the extended Wave 5 of [5].
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